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Consumer
advocate groups hailed the measure as one of the most
consumer friendly credit freeze bills in the nation, The
Georgia Credit Freeze. Under the bill, residents with a
freeze in place must give creditors written permission to
obtain their credit history.
Georgians worried about identity theft would be able to
freeze their credit for a few dollars, under legislation
that passed unanimously in the state Senate.
The
Georgia Credit Freeze caps the amount consumers must pay for
each security freeze at $3 or a total of $9 for the three
major credit reporting agencies. Currently, they charge $10
per freeze. Credit monitoring companies have resisted
setting a cap.
Georgian’s are happy with this version. It goes a long way
toward making consumer protections available to those on a
fixed income & seniors who are often vulnerable to identity
theft.
The
Georgia Credit Freeze helps Senior citizens & residents who
can prove they are the victims of identity theft they will
be eligible for free credit freeze.
Credit
agencies could lift the freeze permanently or "thaw" the
account temporarily if the consumer asked for them to do so.
The temporary thaw was key to gaining support from some
retail groups, who rely on quick credit checks to sell
things like cars.
The
three major credit reporting agencies are already offering
freezes but there were concerns about the amount they could
charge for the service.
Before
apply for the Georgia Credit Freeze, it is highly
recommended that you order your credit report from all three
credit reporting agencies. The nation's three major credit
reporting agencies are Experian Americas, Equifax Inc. &
Transunion LLC. |
